With this approval, the Singapore Exchange can now offer US traders local clearing services for products like iron ore swaps, interest rate swaps and non-deliverable foreign exchange forwards.Read More
One essential requirement of good governance is fiscal responsibility, in particular, not spending beyond your means. More than a balanced budget, given Singapore’s lack of resources, our small and open economy and our vulnerabilities to external events, we need to build up healthy reserves for a rainy day and to safeguard our future.
The Monetary Authority of Singapore is reviewing the regulatory regime for financial intermediaries conducting fund management activities and the exemption regime for financial intermediaries engaged in leveraged foreign exchange trading. A consultation paper has been issued to seek comments from the public on proposed enhancements and changes to the regulatory regime.
Kuen Cheol Song, a Singapore national, is charged with non-competitive trading at his employer’s expense.
The consultation paper proposes to expand the scope of coverage under the DI Scheme, beyond the deposits of individuals and charities, to other non-bank depositors such as sole proprietorships, partnerships, companies and unincorporated entities.
While the current level of speculative activity in the market is still lower than what it was at the height of the property market boom, and overall price levels are below the previous peak, there is a risk that the market could overheat in the next few months, fuelled by low global interest rates and positive sentiments associated with the economic recovery.
MAS will lift the ban on the sale of structured notes for DBS Bank Ltd, Malayan Banking Berhad Singapore Branch and the Royal Bank of Scotland N.V. Singapore Branch with effect from 12 February 2010.
To ask the Senior Minister with the emergence of dark pools which allow trading of stocks to occur away from public eyes and off central exchanges (a) how will the Ministry deal with the regulatory issues that these dark pools are likely to throw up; and (b) how will the Ministry address issues such as insider trading if investors are allowed to trade anonymously.
To ask the Senior Minister in view of the past year’s global financial crisis (a) whether the level of Government regulation of our financial market will increase; and (b) whether the Government’s regulatory philosophy of the market has shifted due to the lessons gleaned from the crisis and, if so, (i) how has it shifted and (ii) what have been the lessons gleaned.
The Finance Ministers and Central Bank Governors of the ASEAN Members States, China, Japan and Korea (ASEAN+3) and the Monetary Authority of Hong Kong, China, announced the signing of the Chiang Mai Initiative Multilateralization (CMIM) Agreement following the conclusion on all the main components of the CMIM at the ASEAN+3 Finance Ministers’ Meeting (AFMM+3) in May 2009 in Bali, Indonesia